12/30/2009

Tesco, J Sainsbury and ASDA said they will delay passing on the increased value-added tax rate to consumers on thousands of products. The VAT is set to increase from 15% to 17.5% on Jan. 1. The VAT freeze does not include all products, however, so some prices will rise. Meanwhile, Marks & Spencer said it will start passing on the higher VAT rate on food starting Jan. 11.

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